https://www.taxtmi.com/caselaws?id=98784 The court dismissed the directors' appeal and partly allowed the official liquidator and judgment-creditor's cross-appeal, holding the directors jointly and severally liable for Rs. 26,600. The judgment emphasized the directors' fiduciary duty and their failure to account for company assets, resulting in liability for damages. en-us Thu, 24 Sep 1970 00:00:00 +0530 Tue, 24 Jan 2012 10:20:16 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=98784 The court dismissed the directors' appeal and partly allowed the official liquidator and judgment-creditor's cross-appeal, holding the directors jointly and severally liable for Rs. 26,600. The judgment emphasized the directors' fiduciary duty and their failure to account for company assets, resulting in liability for damages. Case-Laws Companies Law Thu, 24 Sep 1970 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=98784